Ron Paul Warns “50% Stock Market Plunge Conceivable… And It Won’t Be Trump’s Fault”

by | Aug 21, 2017 | Headline News | 34 comments

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This report was originally published by Tyler Durden at ZeroHedge.com

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The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street.

Speaking on CNBC’s Futures Now, Ron Paul warned:

“A 50 percent pullback is conceivable…I don’t believe it’s ten years off. I don’t even believe it’s a year off. “

Paul noted that there’s a lot of chaos in Washington right now, with an “unpredictable president” and those who are inclined to “tear him apart” but if the market takes that big of a tumble, he doesn’t see it as Trump’s fault.

“It’s all man-made. It’s not the fault of Donald Trump in the last week.

If the market crashes tomorrow and we have a great depression, he didn’t do it in six months.

It took more like six or ten years to cause all these problems that we’re facing.”

Paul previously argued Wall Street is overestimating the strength of the economy, and the Federal Reserve kept interest rates too low for too long.

He said the situation for stocks could turn ugly as soon as October.

“I see the foundation of our system built on sand, and a big wind comes along to blow it down.”

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    34 Comments

    1. Prepared Pastor

      He says the same thing every year. Occasionally he is right, but even a broken clock is right twice a day.

      • bb in GA

        If it is a digital clock and the display is visible when the clock is broken, it is right ONCE per day.

        Analog clocks are sooo 20th century 🙂

        <bb

      • CrackSummSkulls

        Prepared Pastor Huh? You are a hypocrite. Why do you prepare, if God is going to save you? You spread your religious BS around every week, fleecing the flock with your nonsense. Religion, is the Biggest con job out there. Been ripping ignorant sheep off for thousands of years. Hey Pastor, Show me at least one person who got ever lasting life? John 3:16. Until you do so STFU, you are a Fraud.

        • CrackSummSkulls

          You know why Religion is classified as a Tax Free 501(C)3? Its an extension of Government to help keep the population dumbed down with religion so they can’t speak out against Political fraud such as in this article. Try that in your Church Sermon and you loose your Tax Free Status and fleecing ability and have to pay taxes. Until you give you give up your charity status, you are part of the problem hypocrite.

      • NunyaBidness

        Sorta like you pastors keep preaching that God is coming for us?

        He come yet, Mr Clock?

    2. Texas4570

      When it does happen all hell will break loose in the streets. It will take years to recover this time and no government bailouts this time or the people will burn D.C. down.

    3. rellik

      To a large extend the stock market is like PM market.
      It is like gambling in Las Vegas, designed for the poor
      man to lose his money. I invest in real estate and bonds.
      Those are generally tangible assets.
      If the market crashes I won’t care.
      My only economic concern is inflation.
      I prefer depression.

      • buttcrackofdoom

        art cashin of painne weber was asked once on CNBS “well, art, what’s the market going to do today”…..his answer was PRICELESS, maybe even more expensive than THAT….”you can be sure it will do whatever it takes to extract the MOST amount of money, from the MOST amount of PEOPLE”.

    4. cranerigger

      Printing money by the gazillions with no valuable commodity backing it. What could possibly go wrong? Thanks Bernanke. Janet Yellen thinks raising interest rates every chance she gets (once the new President was sworn in) is a good idea. How is the country to pay the debt on the gigantic debt, Janet? Audit the Federal Reserve, then promptly dissolve it.

      • CrackSummSkulls

        Yeah why is the Federal Reserve so afraid of an Audit? Answer because it is mostly fraud.

        The oldest trick in the monetary book is cheating the people by debasing the coin or currency.
        The oldest trick in the monetary book is cheating the people by debasing the coin or currency. It goes back at least as far as the Eighth Century B.C. when the CHewish prophet Isaiah chastised the Israhellites for doing it. “Thy silver has become dross, thy wine mixed with water!” he admonished.

        Reputable private issuers of money, when governments don’t ban them for self-serving reasons, might be tempted to dilute the value of their product. Their incentives, however, tend to run strongly in the other direction.

        If their product gains in value, they make money (literally and figuratively). If they debase it, they might be prosecuted for counterfeiting or fraud. But in any event, customers will flee to competitors happy to “make money” by offering it in a more trustworthy form.

        When entrepreneurs and willing customers shape the framework of a market, the famous Gresham’s Law works in reverse: the good money drives out the bad.
        Similarly, because you prefer fresh eggs to expired ones, or use an iPhone now instead of a walkie-talkie, the inferior product disappears. But when political monopolists backed by the coercive power of government are in charge, the quantitatively-eased stuff is foisted on you whether you like it or not, while the good alternatives are driven overseas or underground.

    5. Anonymous

      A lot of things are conceivable, that doesn’t mean they are probable.

      All the crisis and doom stuff so far has failed, and temporary ups and downs, no matter how large they are, are not really something to worry about unless you are too old to expect to live through it and take renewed gains after they recover and advance.

      The older you get, the fewer risks you should be taking.

      Younger people really don’t have that much to worry about for the most part unless they’ve put themselves in a position where they can’t afford to ride the storm out till clear skies prevail again.

    6. george

      clinton , along with a republican congress , opened the doors to massive fraud by the TBTF banksters .

      this led us to the crash of 2008.

      dodd – frank passed in 2010 with obozo and a democratic congress

      more of the same .

      these bastards will be the end of economic life as we used to know .

      • Genius

        My stocks are doing great! Just went up another 42 #10 cans for only 210.00 😛

        • Justice

          Genius, how did you accomplish that? Outstanding deal. Wow!

          • Genius

            Easy, just search craigslist. Search words like “survival” “freeze dried” “storage food” etc. I got the freeze dried meat and pasta entree’s from an out of biz survival store. Craigslist rocks, I also last year got 18 cases of freeze dried 6 year old, entree’s from a guy that had a moving company and this lady died and the kids didn’t want it so he took it and sold it on craigslist for 400 bux to me! 🙂

            • Justice

              Thanks Genius, much appreciated!

    7. Secede

      Good let’s get on with it.

    8. Justice

      When was the last time anyone heard anything about/from the SEC? Is there any regulation?

      I will answer my own question: NO! People this IS a rigged market and you have a better chance at winning playing 3 card Monte.

    9. Justice

      Off Topic: Do you have Tons of Oatmeal stored away for the SHTF?

      Are you looking for ways to SPICE up your oatmeal so that you don’t decide to get ON the FEMA Bus?

      Well here are some recopies that will make life worth living and it provides an alternate way to prepare oatmeal. She has other videos that provide a lot of different flavor combinations.

      Overnight Oatmeal – 5 Delicious Ways!

      https://www.youtube.com/watch?v=ddGi1wwAISg

      • grandee

        most excellent!!

        i just finished drying a batch of my backyard goji berries.

        dried them off grid in the cab window of the pickup truck.

        they would be great in the one with chocolate 🙂

        i have several super pails of oatmeal stashed.

        also grow blueberries, strawberries. pears ready now also

        i’ll be having the choc one tomorrow 🙂

        • grandee

          oh-my favorite oatmeal

          coffee oatmeal

          • Justice

            Grandee how do you make coffee oatmeal?

            Since I recently got a lot of Pumpkin Spice, I was thinking about trying Pumpkin Oatmeal?

            • grandee

              fix your oatmeal

              fix your coffee as you like it (mine with flavored creamer and sugar)

              pour some of that hot coffee on the oatmeal, stir and enjoy.

              • Justice

                I will try that, thanks grandee!

        • Justice

          Grandee, my brother had the biggest and best raspberry patch around but he had to tear it out because he’s getting ready to sell his home. His blueberries never did well so we gave up. But blueberry oatmeal is maybe my favorite, with lots of brown sugar.

          • grandee

            think this would be good too, as it has oatmeal as it’s base:

            ht tp://shop.honeyville.com/6-grain-rolled-cereal.html

            i have a large stash of this also, it’s what i use to make my granola

      • B from CA

        Justice:
        Thank you.

        I like to bake using oatmeal. Chia seeds can be used in place of eggs. I do things like this lady. Those same ingredients can be baked as cookies, or fried as pancakes. A bucket of oats makes a nice present. Also: oatmeal with blueberries balances sugar levels. Cinnamon lowers glucose and helps with weight management.

        _

        • Justice

          Thanks B, great information. I will try this as cookies and especially pancakes.

    10. Brian

      The last major increase in the stock market was based in part on the belief that Trump would be able to lower the tax burden on corporations to be competitive with other countries. If stock brokers become convinced that he can’t, the stock market will decline. Whether it will be 50% is another question.

    11. Wake-up-people

      This country is a laughing stock anymore and the stock ripoff market is an even bigger joke, actually a true nightmare.

    12. Anonymous

      Didn’t realize Ron Paul was a market analyst.

    13. Faux Liberte

      Ask folks on Zero Sludge if we have a “Market”.

      Ask folks here if we have a democracy.

      Ask folks on YouTube if aliens exists… (Uhm. Bad example. Nevermind).

      The only sure thing I know at this moment is a hand carved Missouri Meerschaum Pipe, a pinch of OHM Bold and a tall cold glass of honey sweetened Iced Tea.

      In this late hour, as the day ends, it doesn’t matter if your thing is a Toking a Davidoff blend through a custom Talbert, or lighting up a Cohiba Hanbana over tumbler of Brandy.

      Know that in this later hour, we’re all the same brothers of men. Casting off the burdens of the day in a simple pleasure. The foolishness of running the empire, or pushing the broom can wait until morning.

      So here’s to all of you. Cheers.

    14. David Chu

      It doesn’t matter who is to blame, the Big Collapse was heralded by yesterday’s Eclipse. And this October is prime opportunity for the deep state, neocons, neolibs, powers that be, the globalists, et al. or JEWS to be precise to precipatate it.

      GOD HAS SPOKEN: THE UNITED STATES OF AMERICA IS FINISHED.

    15. darryl

      Please pardon my stupid question, but if W. Buffet (the greatest investor ever) is sitting on $100 billion cash, and does not know what to do with it, why does he not just buy 58-59 million oz of silver?

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